Teledyne Technologies has sold its piston engine businesses, Teledyne Continental Motors and Teledyne Mattituck Services, to Technify Motor. The subsidiary of AVIC International Holding has paid a total of $186 million for both the operations.

The U.S. industrial conglomerate may use the proceeds from the sale to pay down debt on its credit facility. It will also make a $32 million pretax voluntary pension contribution from the proceeds.

Click here for the release from Business Wire.